Swiss financial regulator Finma said Libra would need a payment system license and would be subject to additional rules to take “bank-like” risks into account. The “highest international anti-money laundering standards” would also need to be applied, it said in a statement on Wednesday.

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The patent office is getting buried in applications for distributed ledger systems, a mountain of documents that chart a clear course toward making static identity and password protection irrelevant.

The company sees increasing consumer demand for cryptocurrency, especially in Asia, and gradual acceptance among financial institutions.

The European Central Bank’s key legal official Yves Mersch described Facebook Inc.’s plan for its Libra digital currency as “beguiling but treacherous,” in a defense of money issued by institutions such as his.

Banks have to be more resourceful with technology and less dependent on high interest rates.

No crypto company wants to be in Facebook's shoes — but many of them want to fill those shoes once the social network's Libra cryptocurrency has is done being pummeled by global regulators.

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Crypto technology will play a major role in the central bank's real-time payments system.

One of the world’s largest cryptocurrency exchanges said it has learned a valuable lesson from the push back on Facebook Inc.’s Libra and will take a different approach as it works on a rival project.